Crizac IPO Delivers 14.71% Listing Premium Backed by Strong Demand

The B2B education platform specialist, Crizac Limited, made a strong debut on both BSE and NSE platforms on July 9, 2025. After closing its IPO bidding between July 2 - July 4, 2025, the company commenced trading with an impressive 14.71% premium on NSE and 14.29% on BSE, delivering solid returns to investors despite being an offer for sale.

Crizac Listing Details

Crizac Limited launched its IPO at ₹245 per share with minimum investment of 61 shares costing ₹14,945. The IPO received phenomenal response with subscription of 62.89 times - QIB segment leading at a remarkable 141.27 times, NII at 80.07 times, and retail at 10.74 times, demonstrating overwhelming institutional confidence in the education technology platform.

Listing Price: The Crizac share price opened at ₹281.05 on NSE and ₹280 on BSE on July 9, 2025, representing premiums of 14.71% and 14.29% respectively from the issue price of ₹245, delivering strong gains for investors.

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First-Day Trading Performance Outlook

Crizac delivered robust debut performance with substantial premiums across both exchanges, reflecting strong investor confidence in education technology companies with global reach. The company, incorporated in 2011, operates as a B2B platform connecting international students with global higher education institutions across UK, Canada, Ireland, Australia, and New Zealand, processing over 5.95 lakh applications through 7,900 registered agents across 75 countries with 329 employees and 10 consultants globally.

Growth Drivers and Challenges

Growth Drivers:

• Global Market Presence: Extensive network of 7,900 registered agents across 75 countries facilitating international student recruitment for 135+ global higher education institutions
• Technology Platform: Proprietary technology platform enabling efficient B2B education services with strong operational scalability and recurring revenue model
• Growing Education Market: Positioned to benefit from increasing global mobility and higher education demand, particularly from emerging markets seeking international education
• Strong Financial Performance: Revenue growth of 16% and impressive PAT growth of 29% in FY25 with healthy ROE of 30.24% and strong margins

Challenges:

• Geopolitical Risks: Analyst notes current shaky global situation may impact international education flows and student visa policies affecting business operations
• Fully Priced Valuation: Issue appears fully priced with P/E of 28.03 and price-to-book value of 8.48 suggesting premium pricing despite growth prospects
• Regulatory Dependencies: Business dependent on visa policies and international education regulations in multiple countries creating compliance complexity
• Market Competition: Operating in competitive international education consultancy market with established players and pricing pressure

Utilisation of IPO Proceeds

• Offer for Sale Only: As this is entirely an offer for sale by selling shareholders, the company will not receive any proceeds from the IPO, with funds going to existing shareholders for stake monetisation

Financial Performance of Crizac

Revenue: ₹884.78 crore for FY25, showing solid 16% growth from ₹763.44 crore in FY24, reflecting strong demand for international education services

Net Profit: ₹152.93 crore in FY25, demonstrating impressive 29% growth from ₹118.90 crore in FY24, showcasing operational efficiency and business scaling benefits

Financial Metrics: Strong ROE of 30.24%, excellent ROCE of 40.03%, minimal debt structure, healthy PAT margin of 17.28%, and robust EBITDA margin of 25.05%

Crizac represents a compelling investment opportunity in the global education sector with strong listing performance delivering 14.71% premium backed by exceptional subscription response and solid fundamentals. Despite concerns over fully priced valuation and geopolitical risks affecting international education, the company's extensive global network, proprietary technology platform, and strong financial performance provide significant growth potential in the expanding international higher education market, validating extraordinary investor confidence reflected in the exceptional subscription and listing performance.